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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #103,921
  • Nov 2, 2011 2:07pm Nov 2, 2011 2:07pm
Quoting gungriffin
On a sidenote I am a strong believer in Mikes philosophy about pin and outside bar closes. He wants to see a buy close above the open and vice versa for a sell. This has saved me from many bad trades.

Ryan
This is what is making me think twice about the 2 day PB I mention above on AJ.
  • #103,922
  • Nov 2, 2011 2:07pm Nov 2, 2011 2:07pm
Quoting gungriffin
Where are your entries and your exits in all of your posts. Without them they are just useless charts. Just trying to better understand what you are trading and your thought process in all of this.

Ryan
Entry is a limit order at the price the PIN closes, stop is last swing high/low, exit is discretionary, depends on time of day etc. I never hold after the futures close, 9pm UK, 10pm CET. If the last swing low/high is too far away I'll give it a miss. Like I said at the start there is no fixed set of rules, discretion is always required. If it wasn't required it could be coded, but it cant.
  • #103,923
  • Nov 2, 2011 2:14pm Nov 2, 2011 2:14pm
Just wanted to toss this one up for anyone who is new or struggling to "see" great PPZs. I am constantly amazed everytime I look at this one as I am glancing through my charts and just wanted to post it up. Looks great on the weekly and on the daily. I honestly am not sure it is possible to find a better PPZ. In the past month or so it also gained the confluence of the 365 ema (the white line)

Ryan


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  • #103,924
  • Nov 2, 2011 3:05pm Nov 2, 2011 3:05pm
Quoting gungriffin
Just wanted to toss this one up for anyone who is new or struggling to "see" great PPZs. I am constantly amazed everytime I look at this one as I am glancing through my charts and just wanted to post it up. Looks great on the weekly and on the daily. I honestly am not sure it is possible to find a better PPZ. In the past month or so it also gained the confluence of the 365 ema (the white line)

Ryan


Attachment

Nice one.. lately i have seen lot of bounces, pbt c/a c/b but no PA to actually trigger the trade..
Trading is a test match not a Twenty20.
  • #103,925
  • Nov 2, 2011 3:42pm Nov 2, 2011 3:42pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades
LOL, still laughing at this, good one!!!

Hector
  • #103,926
  • Nov 2, 2011 6:17pm Nov 2, 2011 6:17pm
2 Pinbar and close below BRN

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  • #103,927
  • Nov 2, 2011 6:19pm Nov 2, 2011 6:19pm
Quoting PinWing
LOL, still laughing at this, good one!!!

Hector
.... just watch it.
  • #103,928
  • Nov 2, 2011 6:50pm Nov 2, 2011 6:50pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades

lol...this is hilarious!

Also, hello again, thread. I haven't been on here in a couple of years, but I'm looking to get back into trading.

Also It's good to see some familiar people still here
skype: ststroud. let's talk trading.
  • #103,929
  • Nov 2, 2011 6:52pm Nov 2, 2011 6:52pm
Just talking to myself here.

This area on GU, is probably going to be a great learning area for a lot of the new people to the thread. It is also a great example of both J16's PPZ levels & Jarroo's qualification of these levels.

Keep your eyes on it folks.
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  • #103,930
  • Nov 2, 2011 6:54pm Nov 2, 2011 6:54pm
Quoting ydaudw
2 Pinbar and close below BRN

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nice Ydaudw

I got in via the 1hr BEOB on the pullback to the former trendline + BRN BIG PPZ and BOXED area
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  • #103,931
  • Nov 2, 2011 7:32pm Nov 2, 2011 7:32pm
Quoting mbqb11
nice Ydaudw

I got in via the 1hr BEOB on the pullback to the former trendline + BRN BIG PPZ and BOXED area
Thanks mbqb11...
Nice 1hr BOEB there
  • #103,932
  • Nov 2, 2011 10:14pm Nov 2, 2011 10:14pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades

Just got a chance to sit down and watch this. Classic.

Ryan
  • #103,933
  • Nov 2, 2011 11:58pm Nov 2, 2011 11:58pm
Quoting the_wizard
This ones for the newbs (or the old hands that still don't get it)

http://www.xtranormal.com/watch/12631896/finding-trades

Thanks Wizard , woke up this am and you made my day.

havent had such a good chuckle since ?

pity it happens , just like myself sometime back. (past tense)

Mike
  • #103,934
  • Nov 3, 2011 2:10am Nov 3, 2011 2:10am
Hi guys everyone ! Lurking since this thread was just 300 pages I feel like a know a lot of you guys , especially the elder ones

What do you think guys of this AUDCAD daily pinbar ? I took it actually , but it stopped me for a full loss . I will very much appreciate opinion from mbq (Mike) as well , 'couse my trading style is very close to his .
Thanks
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  • #103,935
  • Nov 3, 2011 2:12am Nov 3, 2011 2:12am
Head and shoulders formation, Price breaks through the shoulders area than pull back to the resistance (shoulders) area. Expected to move bearish in my opininion. What about yours?
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  • #103,936
  • Nov 3, 2011 2:57am Nov 3, 2011 2:57am
Quoting bolo
Head and shoulders formation, Price breaks through the shoulders area than pull back to the resistance (shoulders) area. Expected to move bearish in my opininion. What about yours?
It wont get that easy through this daily support.
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  • #103,937
  • Nov 3, 2011 3:26am Nov 3, 2011 3:26am
H1 BUEOB that never broke, IB that took us back down and the small PB that made this large move.

Just shows how these areas are pretty predictable.
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  • #103,938
  • Nov 3, 2011 3:54am Nov 3, 2011 3:54am
Quoting Rust
Hi guys everyone ! Lurking since this thread was just 300 pages I feel like a know a lot of you guys , especially the elder ones

What do you think guys of this AUDCAD daily pinbar ? I took it actually , but it stopped me for a full loss . I will very much appreciate opinion from mbq (Mike) as well , 'couse my trading style is very close to his .
Thanks

I am sure Mike will give you his opinion but, looking at it from what I have been studying recently her is MHO.

This PB seemed to come off a nice area, the nose was long and it was not a small PB. However, we can see that there is very little space to the bar low and, if we look at the Monthly chart, we can see that this bar closed below the Highest close of resistance on the monthly chart, we can also see a strong consolidation area way back in the 90's.

Glad you came out of lurking mode, asking questions helps all of us & welcome to the thread.
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  • #103,939
  • Nov 3, 2011 4:02am Nov 3, 2011 4:02am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Rust
Hi guys everyone ! Lurking since this thread was just 300 pages I feel like a know a lot of you guys , especially the elder ones

What do you think guys of this AUDCAD daily pinbar ? I took it actually , but it stopped me for a full loss . I will very much appreciate opinion from mbq (Mike) as well , 'couse my trading style is very close to his .
Thanks
My concerns on this bar

NR4 2 bars prior, which broke short
PB closed to the down side
Size of PB compared to to other bars around - it was in keeping or smaller
No room around it

just my view - lets wait for the Guru's and see how we all faired by there standard
  • #103,940
  • Nov 3, 2011 4:15am Nov 3, 2011 4:15am
Quoting Pinbar
I am sure Mike will give you his opinion but, looking at it from what I have been studying recently her is MHO.

This PB seemed to come off a nice area, the nose was long and it was not a small PB. However, we can see that there is very little space to the bar low and, if we look at the Monthly chart, we can see that this bar closed below the Highest close of resistance on the monthly chart, we can also see a strong consolidation area way back in the 90's.

Glad you came out of lurking mode, asking questions helps all of us & welcome to the thread....
This is issue with PA in traffic - what I have found in my brief experience is that you are unable to (easily) determine which price will act as your FTA, which is what makes them tricky to deal with.
You could say that your pin triggered and went as far as it should before the sellers took over. And you should have done one of the things that James has as part of his “this is Critical” list.

Also another thing we should keep in mind is that we can never have certainties in trading only probabilities. Losses can and will happen and the trick is in cutting them.
Trading is a test match not a Twenty20.
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